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Word Count: 1,493
Executive Summary Ensuring economic success is one of the main responsibilities of a man in power such as President Suharto Citizens depend on their leaders to represent their best interests and to provide a certain standard of living In the case of Indonesia the political leader sought personal gain in both power and finance and provided his people with the minimum to keep them content and quiet Organizations such as the IMF were created to ensure that leaders such as Suharto do not gain absolute power The IMF sets up certain measures of structural reform in exchange for financial assistance In this particular case Suharto took measures into his own hands ignoring the suggestions made by the IMF resulting in a severe economic crisis The IMF then responded by taking action and delaying disbursements to Indonesia and its people in hopes that Suharto would agree to restructure its monetary policies I find the action taken by the IMF to be most fair and even lenient Suharto was given numerous chances to oblige and IMF members sat back and waited patiently More severe action could have been taken against President Suharto and I consider him to be lucky that he only received a delay in disbursement 1Suharto could have simply kept his promise to restructure the banking system maintain a tight monetary policy raise sales taxes cut food fuel and electricity subsidies end government funding of several huge money-losing investments and disband domestic monopolies cartels and special entitlements Although these tasks may be easy to spot they are not however easy to implement Each has consequences that could eventually lead to both economic and social disasters For example government funding is essential for economic growth and stability Ending the funding of certain investments profitable or not may scare away potential investors who may see it as a decrease in Indonesias foreign direct investment Instead Suharto could have simply decreased the government spending which would
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